Lorelei Graham writes in Canadian Mining Journal on the ways mining companies can protect innovation and AI—as the sector embraces innovation like never before to keep pace with the demand for minerals from the automobile sector, telecommunications and electronics manufacturers, and many modern industries.
Innovation is rapidly being adopted in a variety of forms across the mining supply chain from digitization of key data, resource extraction and generative artificial intelligence (AI) to innovation that promotes sustainable practices. So far, the year 2023 has seen a flurry of announcements from global investors and companies in generative AI and machine learning in mining. AI exploration projects are currently underway in Quebec and Ontario, and Canadian technology startups are attracting new international funding.
Depending on the innovation, there are a number of ways to protect these relevant core business assets through identifying and protecting them as intellectual property. Intellectual properties, such as patents, trade secrets, trademarks, industrial designs and copyright protection can all be used to develop and enrich a mining company’s asset pool.
Lorelei says that a curated intellectual property strategy can provide a mining company with a wide variety of assets that can be the foundation for increased revenue, financing and success. The accelerated adoption of innovation in and by the mining industry will encourage greater investment to maintain the supply for the surging demand for metals and minerals.